The upcoming week will see no less than five central banks disclosing interest rates decision. Along with other major economic statistics released, this week is huge to the forex market. The European Central Bank (ECB) is believed to keep the interest rate unchanged at 4.25 percent this Thursday. Same expectation for the Bank of England (BoE) to leave interest rates on hold for the fifth month running this Thursday as well. In Australia, it is expected that The Reserve Bank of Australia (RBA) will cut the interest rate for the first time in six years since 2002.
On the North American side, the Bank of Canada is not expected to make any significant move, though many also believe that BoC will cut the interest rate at the end of the week. We will also see the employment report for August which is expected to continue the weak trend of the previous months.
In the US, we will most probably see another weak non-farm payrolls report.
For any news traders, this week is definitely one to pay extra attention to, and to any other type of forex traders, this week will be fun with all the major economic news affecting the forex market, and don’t get caught up with the stops! :p
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